Albania’s state-owned oil producer Albpetrol has awarded a contract for the sale of crude oil to domestic companies Europetrol Durres and Bitex Refinery. The consortium was selected after submitting a joint offer in an auction held on October 8.
The newsletter gives conflicting figures for the contracted volume: its headline states 100,400 tonnes, while the article body gives 101,400 tonnes. The two companies were named the successful buyers following the auction.
To complete the transaction, the consortium must provide a financial guarantee of about €6.14 million. This represents 10% of the estimated contract value.
Pricing and delivery terms
Albpetrol set a minimum price equivalent to 77.51% of the Brent benchmark, with transaction-related costs also included under the tender conditions. The final contract value will therefore vary with international crude prices.
Deliveries may take place over a period of up to 12 months from the first collection date. This allows the buyers to receive the crude in stages rather than take the entire volume at once.
Buyers and market context
Europetrol Durres trades in fuel, while Bitex Refinery is active in petroleum refining. The award gives domestic buyers access to a significant quantity of locally produced crude as regional refiners and fuel traders remain exposed to volatile international oil prices, logistics costs and changing supply routes.
For Albpetrol, the tender creates a structured outlet for its production while keeping the company directly exposed to Brent through the pricing formula.
